Quantbot Technologies LP Makes New $557,000 Investment in Churchill Downs, Incorporated $CHDN

Quantbot Technologies LP purchased a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 6,216 shares of the company’s stock, valued at approximately $557,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Churchill Downs in the 2nd quarter valued at approximately $555,948,000. State Street Corp boosted its position in shares of Churchill Downs by 0.6% during the 4th quarter. State Street Corp now owns 1,956,295 shares of the company’s stock worth $223,424,000 after purchasing an additional 11,523 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Churchill Downs by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock valued at $157,482,000 after purchasing an additional 7,687 shares during the last quarter. Geode Capital Management LLC raised its position in Churchill Downs by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock valued at $151,089,000 after purchasing an additional 32,445 shares during the period. Finally, Boston Partners raised its position in Churchill Downs by 0.9% in the third quarter. Boston Partners now owns 1,257,725 shares of the company’s stock valued at $121,998,000 after purchasing an additional 11,653 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CHDN shares. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, July 31st. Mizuho boosted their price target on shares of Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Truist Financial set a $145.00 price target on shares of Churchill Downs in a research report on Friday, June 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Finally, Susquehanna lifted their price objective on shares of Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $136.88.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $86.51 on Friday. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.83 and a beta of 0.68. The stock has a 50 day simple moving average of $87.21 and a 200-day simple moving average of $88.67. Churchill Downs, Incorporated has a 12-month low of $79.40 and a 12-month high of $118.35. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.06.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The business had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $977.38 million. During the same period last year, the firm earned $3.10 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.